A Bearish Engulfing
pattern formed at the top of channel is a important point to note on the chart. Fresh long entries should be avoided right now until a fresh high breaks. On the other side if current formed low breached markets may see the lower lows coming forward. Study the charts on indices carefully. Strategy : FRESH LONGS + BUY PUTS , Only BUY + Strict Stop Loss , No signs of selling yet. Still strong standing on upside.